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Asahi Glass Cuts U.S. Production of Automotive Glass by 10%
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Asahi Glass Co., Japan's largest glassmaker, said it has reduced U.S. output of automotive glass by about 10 percent as a slump in new vehicle sales in North America crimps demand.
The company operates processing plants in Kentucky and Ohio that can together produce glass for about 3 million vehicles a year, company spokesman Hiroyuki Wakasugi said today by telephone. The Tokyo-based glassmaker hasn't decided how long the reduced output will continue, he said.
The cutback, reported earlier in the Nikkei newspaper, comes two months after the company announced a plan to scale back production of construction glass because of a U.S. housing slump and higher raw material costs.
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June 19th, 2008
Source: Bloomberg |
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